Businesses need to keep up to speed with advice on Coronavirus

It goes without saying that the current crisis, which is unfolding globally, is a threat to life and businesses on a scale we have never seen before.

 

In these difficult times, we at AIT Accountants are open for business and adhering strictly to all the advice coming from the NHS and Government.

 

We are also, more than ever, here for our clients pointing them in the right direction as small businesses and the self-employed particularly are in the eye of this storm.

 

With this in mind, and no doubt, you are aware, the new chancellor Rishi Sunak in recent days has announced support for businesses of all shapes and sizes in many different forms.

 

This includes a ‘VAT deferral scheme,’ which applies up until 30/06/2020 for now, and may be extended depending on how the coronavirus crisis develops over the coming weeks and months.

 

The changes for businesses can be found on the HMRC website, who have also set up a helpline for businesses.

 

However, we expect that as the crisis develops there will be many more announcements to come from the Government.

 

Here are some useful resources for businesses at this time.

 

 https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses#support-for-businesses-through-deferring-vat-and-income-tax-payments

 

https://www.icaew.com/insights/coronavirus/uk-practical-business-advice-covid-19

 

https://www.fsb.org.uk/campaign/covid19.html

 

https://www.cbi.org.uk/coronavirus-hub/

 

https://www.greaterbirminghamchambers.com/media/883326/government-support-for-businesses-coronavirus-covid-19-v2.pdf

 

Finally, we just want to say that it is imperative that, at this time, businesses must act responsibly and that the messages from the Government regarding social distancing and other steps are adhered to.

 

It’s an extremely difficult time for us all, but the sooner we take the right steps, lives will be saved, businesses will be saved and we can hopefully return to normal as soon as possible.

 

We at AIT Accountants wish you all well and if you need any advice at all, please do not hesitate to contact us.